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<br /> (i)Ail or part of the Property, or a beneficial interest in a trust owning all or part of the Property,is sold .:,,_ �� i,��t,:
<br /> -•^�`"''+` ' or otherwise transferred(other than by devise or desceny, and � �= i:
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<br /> (ii) The Property is not occupied by the purchaser or grantee �s his or her principal residence, or the �• �,,;..;,_,
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<br /> purchaser ar graatee dces so occupy the Property but his or her credit has not been approved in ,.. . ,�,�*_a�.:
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<br /> accordance with the requirements of the Seccetary. � �"^�•'-°---- --
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<br /> (c)No Waiver. If circumstances cecur that would permit L.ender to require immediate paymeat in full, but V:_.�.=_�^�
<br /> Leader does not require such payments,Lender does not waive its rights with respect to subsequeat events. ,,�
<br /> (d)Regulatbns oi HUD Secretary. In many circumstances reguladons issued by the Secretazy wiU llmit �,R-;,,�
<br /> ' Lender's rights.in thc case of payment defaults, to require immediate payment in full and foreclose if not ,_„,_-.�.
<br /> . paid. This Securlry Instrument does not authurize acceletaclon or fora:losure if not perraitted by regulations _
<br /> of the Secretary. °_—_
<br /> (e)Mortgage Not Insured.Borrower agrees tdat if this Secwiry Instnunent aad the Note arc not determined ^;-_'°�"
<br /> to be eligible for insurance under the National Housing Act within 60 days from the date bereof, Lender ;��:.•��_
<br /> may, at its option. nquire immediate payment in full of all sums secured by this Securiry Inst:ument. A i��--
<br /> wrltten statement of aay authorized agent of the Secretary dated subsequent to 60 days from the date hereof, , ,
<br /> ��_� decllning to insure �hls Security Instrument and the Note, shall be deemed conclusive proof of such _�—__
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<br /> indigibility, Notwithstanding the foregoing, this optioa may not be exercised by Lender when the
<br /> ' unavailabiliry of insurance is solely due to Lender's failure to remit a mortgage insurance pre�nium to the -
<br /> Secretary.
<br /> . '�' F� 10. Reiastatement. Bonower has a rlght to be reinstated if Leader has required immaliate payment in full ;'���
<br /> � b$cause of Borrower's failure to pay an amount due under the Note or this Securiry Instnunent. This r�ght applies =-
<br /> even after foreclosuro procealings are instituted. To reinstate the Securlty Instrument. Borrower sb�l tender in a
<br /> , �-- - lump sum all amownts requirtd to bring lsorrower's accoun i cuncui i n c l u d i a g, t 8 i�IC Cx2CA2 ShL� s.�ebligation�of •
<br /> Bonower under this Secudty Instnunent,foreclosure costs and reawnable and customary attorneys'fees and expeases �:--
<br /> properly assceiated with the foreclosure procadiag. Upan reinstatemeat by Borrower. this Securiry Instniment aad r. -
<br />� the obligations that it secuns shall remain in effect as if Lender had not required immed3ate paymeat in full. _ _
<br />= However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the
<br /> commencement of foreclosure proceedings withln two years immediately preceding the wmmenament of a current
<br /> ", ' . . • foreclosun proceeding. (iI) reinstatement will preclude foreclosure on dlfferent grounds in the future, or (iii)
<br /> - reinstatament will advarsely affect the priodry of the lien created by this Security Instrument.
<br /> - � 11. Borrower Ndt Released; Forbenrance By Lender Not a Wsdver. Extension of the time of payment or l'�'
<br />- modification of anaonizadon of the swns secured by this Secur[ty Insuument granted by Lender to any successor ia _ '
<br /> ' . " interest of Bonower shall not operate to release the liabiliry of the originel Horrower or Borrower's suxessor in
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<br />�;, ; : interest. Leader sh�l not be required to commr.nce proceetlin8s against any successor in intenst or nfus�e ro extead
<br />" - - time for payment or otherwise modify amortizatioa of the sums sxured by this Securiry Instnimeat by reasoa of any
<br /> ��:j��..;•: . �'. demand made by ttu original Bonower or Borrower's successors in ineerest.Any forbearance by Lender in exercising _
<br />.��' , any rlght or nmedy shall not be a waiver of or preclude the exercise of any rtght or nmedy. -_-
<br /> - 12. Succesco�s and Asstgnv Bouud;Jotnt And Several Liabillty; Co-Sigaers. The coveaants aud agroemeats �.—
<br /> -- � of this Securtty Insaumenc ehall bfnd and benefit the successors and assigns of Lender and Borrower,subject to the -
<br /> - � , }�,;` provlsions of paragraph 9(b)• Borcower's covenants and agreements shall be joint and several. My Borrower who �'�"-
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<br />-`�''°� • �• �o.s;gns this Securlry Instrument but does not exxute the Note: (a) Is co-sigaing this Securiry lnstrument on]y to ;--
<br /> `-r�-,'�{,'�� �:, mortgage,grant and convey that Borrower's interest in the Property under the terms of this Sxurity instrumenc; (b) E'.`_
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<br /> - is not personally abligated to pay the sums secured by this Security Instrument; and(c)agras ttiat Lender and any `
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<br /> •>r.•�+ � oth�r Bormwer may agree to eatend, modify, forbear or malce any accommoclations with regard to the terms of this ,�i-�
<br /> -'''"v'.,�, Security Instrument or the Note without that Borrower's consent. •-
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